DLA Piper, the global law firm, provided legal advice to Karlín Group in connection with an envisaged joint venture with another developer for a residential real estate project in Modřany in Prague 4, the Czech Republic.

DLA Piper and Karlín Group began working on the deal in March 2016 and the transaction was completed in April 2017. Residential and office project development in Prague 4 is one of the priorities for Karlín Group and fits into the overall strategic vision of this leading development group.

The transaction was structured as a share deal, but also involved a number of restructuring sub-steps, including acquisition of land, increase in share capital, a contribution outside of the share capital and a demerger. The value of the deal is confidential.

“We assisted our long-standing client Karlín Group in structuring the deal, drafting the relevant transaction documentation and negotiating with the counter party and its implementation. We are delighted that the transaction has been successfully completed,” said Miroslav Dubovský, Country Managing Partner and Head of Corporate Practice in the DLA Prague office.

The Prague DLA Piper team has extensive experience in coordinating transactions in Central and Eastern Europe’s real estate market and managing them. The Prague core team advising Karlín Group was led by Miroslav Dubovský, Country Managing Partner, and included Petr Samec, Senior Associate and Jan Metelka, Junior Associate.